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BEIJING, February 9 (TMTPOST) —— China"s largest carmaker SAIC Motor Corporation is going to scale up its new energy vehicle sales to 1.5 million by 2025, according to the announcement made by the company on Thursday, after A-share trading.

SAIC, a partner of US carmaker General Motors and Germany"s Volkswagen, said it sold 238,000 vehicles at the wholesale level in January, with 307,000 vehicles delivered at the terminal. In January, SAIC"s overseas wholesale sales reached 76,600 vehicles, up 17.1% year on year. Sales of new energy vehicles in January reached 32,221 units, down 55.39 percent year-on-year.

In addition, the company will continue to make breakthroughs in high-end smart electric brands and overseas markets by fully relying on its strong industrial chain advantages and innovation system competitiveness. Efforts will be made to achieve new growth and strive to achieve the annual target of total sales of 6 million, new energy vehicle sales of 1.5 million, and overseas sales of 1.2 million.

In 2022, SAIC sold a total of 5.303 million vehicles. Among them, 1.073 million new energy vehicles were sold, a year-on-year growth of 46.5%.

Recently, SAIC Motor"s electric vehicle sales is highlighted by the fact that the company"s many smart electric new cars are well recognized by the market. In January, SAIC shipped 21,600 vehicles overseas during the Lunar New Year holiday to meet fast-growing demand from overseas customers, setting a record for overseas shipments by a Chinese automaker. The model IM L7 was blindly booked for over ten thousand units, Rising Auto F7 was booked for over ten thousand vehicles within one day, and nearly 5,000 units of MG4 Electric were delivered in Europe in the first month of 2023, which is expected to create the company"s record of single model overseas monthly sales of over ten thousand.

SAIC officials also forecast that as the passing of the peak of coronavirus, the gradual alleviation of the core problem of lack of chips, as well as the continuous efforts made by the central and local governments to promote auto consumption, China"s auto industry is expected to see its sales grow by over 4% in 2023.